Property Overview: 769 Beach Avenue, Winnipeg

Key Characteristics & Appeal

This one-and-a-half storey home in East Elmwood presents a distinct profile defined by its generous land and living space relative to its immediate area. Its primary appeal lies in its above-average 1,669 sqft of living area, which ranks in the top 10% for Beach Avenue, and its substantial 5,902 sqft lot, ranking in the elite top 4% on the street. This combination offers significant space and potential for expansion, gardening, or outdoor living that is uncommon for the neighbourhood.

The home is a classic 1921 build with an unrenovated basement and a detached garage, suggesting it is well-suited for a buyer looking for a project or a blank canvas. The assessed value is notably below area averages, which typically indicates a lower property tax burden but also reflects the home’s age and condition. This property would best suit a value-conscious buyer, DIY enthusiast, or investor who prioritizes lot size and interior square footage over modern finishes and is prepared to invest in updates over time. It’s a property where the value is fundamentally in the land and the spacious floor plan, offering a chance to shape a home to one’s own tastes.

Frequently Asked Questions

1. Why is the assessed value so much lower than nearby homes?
The assessed value is based on the property’s age (1921), its condition (including an unrenovated basement), and its recent sale price. It reflects a market valuation for the home in its current state, not the potential value after renovations.

2. What does "Top 10% for Living Area" actually mean?
It means that compared to 161 similar homes on Beach Avenue, only 10% have a larger living area. This home offers more interior space than 90% of its direct street peers.

3. Is the large lot a benefit for future expansion?
Potentially, yes. The lot size is significantly larger than most in the area, which could provide flexibility for additions, a larger garage, or landscaping projects, subject to local zoning and permit approvals.

4. What should I budget beyond the purchase price?
Given the age of the home and the mention of an unrenovated basement, buyers should budget for immediate maintenance, potential updates to major systems (like plumbing or electrical), and any desired renovations. The lower tax burden may offset some of these costs over time.

5. How does the 2023 sale price relate to the current asking price?
The home sold for $21,500 in May 2023. The current assessed value is $17,200. A buyer should investigate what, if any, work was done since the 2023 sale and understand that market conditions and the property’s condition are the primary drivers of the current list price.